In Week 18 of 2025 (April 28–May 4), electricity prices across South East Europe (SEE) and Central Europe declined significantly, influenced by lower gas prices, reduced demand, and a surge in renewable power generation. Prices in all SEE countries fell below €80/MWh, with Türkiye recording the lowest average at €44.63/MWh, followed by Greece at €54.42/MWh. Italy remained the most expensive market in the region with €76.88/MWh, despite a weekly drop of 13.57%. The sharpest declines in electricity prices occurred in Greece and Bulgaria, with reductions of 34.27% and 30.37% respectively. Croatia and Romania followed closely behind, while Türkiye and Italy experienced more moderate decreases.
Central European markets also saw prices tumble, with major countries averaging below €60/MWh. Slovakia recorded the highest price in the region at €60.26/MWh, while France had the lowest at €25.19/MWh, reflecting a dramatic 57.06% weekly drop. The broader European average stood around €54/MWh, with prices ranging from €15.36/MWh in Spain to €76.88/MWh in Italy. The Iberian Peninsula experienced a significant disruption due to a blackout on April 28, which weakened the price coupling between Spain and Portugal and contributed to steep price drops of 59.18% and 54.42% respectively. According to Spain’s grid operator REE, there was sufficient supply during the event, with overcapacity used for exports and hydropumping. ENTSO-E is investigating the blackout.
Demand across SEE presented a mixed picture. Overall regional electricity demand rose slightly by 0.62%, totaling 13,563.16 GWh. Greece recorded the largest increase in demand (4.20%), followed by Italy (2.23%), while Bulgaria, Croatia, and Türkiye posted smaller gains. In contrast, demand fell in Serbia, Hungary, and Romania, with declines driven by mild, dry weather and the May 1 International Workers’ Day holiday, which reduced industrial activity.
Renewable generation in the SEE region saw a notable jump during the week. Total output from wind and solar reached 2,784.82 GWh, up 53.5% from the previous week. Wind generation surged by 133.6% to 1,741.86 GWh, with Greece, Türkiye, and Romania seeing the highest increases. However, solar output declined slightly by 2.4%, with Bulgaria experiencing the steepest drop. Hydropower output also fell by 2.11% overall, with notable reductions in Bulgaria, Croatia, and Hungary. In contrast, Italy, Türkiye, and Greece reported slight increases in hydropower generation due to wetter conditions.
Thermal power generation dropped significantly in Week 18, falling by 20.37% to a total of 3,953.91 GWh. Coal-fired output fell by 18.16%, and gas-fired generation dropped by 22.52%. Türkiye experienced major declines in both coal and gas output, while Greece saw a slight rise in lignite-fired generation but a decrease in gas-fired production. Italy’s coal output rose slightly, but its gas-fired generation fell.
Cross-border electricity trade also shifted. Net electricity imports into the SEE region dropped by 34.14%, totaling 760.13 GWh, mostly due to reduced Italian imports. Meanwhile, exports from the SEE region rose by 12.4% to 156.54 GWh, and imports decreased by 29.1%. Romania, Hungary, and Italy all saw large reductions in net imports, while Croatia and Serbia increased their net import volumes. Bulgaria remained a net exporter, albeit at lower levels than the previous week, and Greece transitioned into a net exporting position, supplying 50.96 GWh.
These developments reflect the combined impact of changing weather conditions, holiday-related demand fluctuations, and strong renewable generation on regional electricity dynamics during the first week of May 2025.
